Bank Nifty To See Levels Of 16500-16800, If 16280 Levels Holds By Closing

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that BankNifty is discounted and traders should go long at dips in BankNifty. EquityPandit also predicted that BankNifty would outperform Nifty and exactly same happened. Indian Stock Market saw sharp profit booking at fell down but BankNifty continued to outperform Nifty for the whole trading session. Finally, Indian Stock Market, including Nifty, Sensex and BankNifty recovered to see new intraday highs for the day. BankNifty saw highs right near EquityPandit’s predicted resistance levels of 16380 like a dot. Traders, who followed EquityPandit’s advice to go long at dips in BankNifty might have earned whopping profits for the day. Finally, Indian Stock Market closed flat with BankNifty shinning in gap positive region.

Today: Indian Stock Market would open positive for the day. Technically, Indian Stock Market is still in positive zone. Now BankNifty is ready to see around 500 points movement in positive region. Next target for BankNifty is 16500-16800 levels. Traders, should go long in BankNifty at every dip in the market. Nifty would soon achieve 8000 mark. This movement is going to be a big breakout for BankNifty. EquityPandit suggested going long in BankNifty at 15550 levels and the logical wider target is set at 17000 levels, if BankNifty managed to hold 16280 levels by closing. FIIs were net sellers of Rs.80.10 crores whereas DIIs were net sellers of Rs.300.09 crores in cash market for last trading session. Nifty would see strong support at 7850-7775-7730-7715 whereas strong resistance would be seen at 7980-8005-8025-8080 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (7915) The support for the Nifty is 7865-7850-7775-7730 and the resistance to the up move is at 7980-8005-8025-8080 levels.

NSE BankNifty: (16350) The support for BankNifty is at 16260-16200-16160-16060 and the resistance to the up move is at 16540-16670-16700-16780 levels.

BSE Sensex: (25844) The support for the Sensex is at 25720-25630-25540-25445 and the resistance to the up move is at 25885-25956-26035-26200 levels.

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